HELSINKI, June 20, 2018 (Press Release) -European institutions have come to an initial agreement on the revised Renewable Energy Directive. UPM Biofuels welcomes the agreement as it creates an obligatory advanced biofuel blending mandate in all EU Member States starting at 0.2% in 2022, double counted, and rising to 3.5% in 2030.
"The UPM Lappeenranta Biorefinery, the world's first to produce wood-based renewable diesel on a commercial scale, has proven the potential as a significant producer of truly sustainable advanced biofuels. UPM BioVerno, which reduces GHG emissions up to 80% compared with fossil fuels, has found a solid market place. The agreement will further boost interest in the most sustainable biofuels and strengthens the position of advanced low-ILUC fuels, such as UPM BioVerno, that have minimal risk of causing indirect emissions or land use change," says Sari Mannonen, Vice President, UPM Biofuels.
UPM started operations at the Lappeenranta Biorefinery at the beginning of 2015. In the years since, UPM has established a strong position in advanced biofuels markets with special attention on product quality, high GHG and local emissions saving, and excellence in sustainability, including certification.
"We welcome the fact that advanced biofuels are now recognised as a fast-track route to decarbonisation of transport across the EU. We also see that more and more countries are working on their national plans to decarbonise transport, and sustainable biofuels play an important role in achieving the Paris Agreement targets," says Marko Janhunen, Director, Public Affairs, UPM.
UPM plans to become a major player in high quality, advanced biofuels for transport. Biofuels are an essential part of the Biofore strategy. The innovative wood-based biofuels developed by the company and their production technologies are part of a sustainable future. UPM's biofuels are frontrunners in quality, usability and sustainability. They will significantly decrease greenhouse gas and tailpipe emissions compared to fossil fuels.
UPM leads the forest-based bioindustry into a sustainable, innovation-driven and exciting future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. UPM provides sustainable and safe solutions to the growing global consumption. Products are made of renewable and recyclable materials. The group employs around 19,100 people worldwide and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki.